What he says makes me know that. This is a space I understand well. He doesn’t.
Also not sure why you’re putting he in quotes or capitalizing it like it’s out of the Bible.
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I think the Exxon guy wants no EPA type rules out there and how their investment will be protected…
At this point, it’s only a worthwhile investment if the administration can guarantee that any investment by the oil and gas companies will be reimbursed by Venezuela (or US Taxpayers)
But clearly, there exists no contract as far as I’m aware that guarantees any of such dealings.
Chevron has only been able to work in Venezuela through joint ventures, and the administration doesn’t want that. He wants oil companies to drill independent of JVs.
With that all said, it’s clear the administration has no plan. I think the president hoped that something was going to come out of this, and clearly, it’s not the case.
This to me, seems like another distraction from the Epstein Files
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Look no further than his former best friend of 10 years, straight from the horses mouth
He only knows real estate. That’s it.
Oil and gas isn’t real estate.
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Venezuela has laws on the books on how foreign oil companies may operate.
I’m not sure how that works when we arrest the countries president on drug charges; but I’d think the laws still stand until that government changes or amends them.
Per google AI…
Venezuelan law asserts state ownership of subsoil resources, requiring foreign oil companies to operate through joint ventures (JVs) with the state oil company
, often demanding majority stakes for the state, as mandated by President Hugo Chávez in 2007, though current proposals aim to allow majority foreign ownership and management. Key fiscal terms involve significant royalties (around 30%) and income taxes (around 60%), creating an “unfavorable fiscal regime,” alongside complex regulations and US sanctions, which restrict investment and operations for international firms.
Key Legal Frameworks & Principles:
- State Ownership: The Venezuelan Constitution (Article 12) vests ownership of all hydrocarbons and minerals in the Republic (the state).
- Strategic Sector: Article 302 reserves the petroleum industry for the state, with foreign investment participation allowed through specific mechanisms like joint ventures (Empresas Mixtas).
- Joint Ventures (Empresas Mixtas): Foreign firms typically partner with PDVSA, needing to grant the state a majority stake (e.g., 51% or more) in projects, limiting investor control.
No, not even close.
I don’t see XOM increasing it’s CAPEX on something that will not bear fruit until DJT is long out of office. The risk is too great. XOM has been burned more than once by Venezuela. Guyana is much more attractive although, I’m sure, XOM would love to have offshore rights in Venezuela if the terms were decent. For now, Woods can bide his time, he has plenty of places to look for in Guyana.
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Again, what makes you think he does not know the energy industry well?
Someone was in charge for four years then again now. He is surrounded by energy experts, the very top of the industry.
He is surrounded by yes men who tell him what he wants to hear
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Again, I’m reading what he has said and I was responding to one of those quotes. It’s very clear.
He was never in charge of oil and gas, nor does being president imply any expertise in this area.
And he’s not surrounded by energy experts. He has Wright who knows his stuff, but aren’t a bunch of other energy experts surrounding him.
In any case, he says what he wants and has never really listened to experts. Darren Woods knows his stuff. The president should listen to him.
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You know that how?
I look at what he says.
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His “energy” meeting last week was long overdue. The execs comments, reactions spoke widely that they are in favor of his “energy” strategy/leadership. That to me is much more than a “boot licking” depiction from a certain side of the media.
You’re pivoting from the convo now. The meeting was good. His response was not.
He’s showing his lack of knowledge of the industry.
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“They’re making a mistake because I have a gut and my gut tells me more sometimes than anybody else’s brain can ever tell me.”
-Man who listens to every word everyone ever says and acts accordingly.-2018
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It’s not really his job to be an expert at oil and gas , but it’s pretty obvious the energy secretary has no voice in this administration
The president is erratic , and everyone is afraid of him
Agree, I didn’t say otherwise.
How are you this naive
They are in favor of deregulation, that’s it.
That way, drilling plans can be set in place today, and physical operations can take place years ahead regardless of which administration is in office
With that said, republican policy is usually never good for oil prices
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I am not going to LOL because p.o.s. maduro through his dictatorship killed thousands if not hundreds of thousands.
Please do not bring up laws when we are dealing with a dictator. Tell that to over 8 millions of Venezuelans that have fled their country.
Venezuela has all of the natural resources to make it a top ten world economy. p.o.s. maduro and p.o.s. chavez managed to make Venezuela a third world country economy…and you write Venezuela has laws…
Laws have to be respected irrespective of who the head of state is, whether you like or dislike them, whether you agree with a country’s policy or not; otherwise it’s all meaningless.
Sounds like want to “run” other countries and
overthrow governments based upon your beliefs.
Greenland next ?
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